TIDMPFC
RNS Number : 7553B
Petrofac Limited
12 October 2020
Press Release
12 October 2020
PETROFAC MANAGEMENT AND BOARD CHANGES
Petrofac Limited ("Petrofac" or "the Company") announces today
that Ayman Asfari has decided to retire as Group Chief Executive at
the end of the year to focus on his family, health and charitable
interests.
Sami Iskander will join as Deputy Chief Executive on 1 November
2020 and, following a short transition period, will assume the role
of Group Chief Executive from 1 January 2021, at which time he will
also be appointed as an Executive Director to Petrofac's Board of
Directors.
On 1 January 2021, Ayman Asfari will be appointed as a
Non-executive Director to Petrofac's Board of Directors, to provide
stability and continuity.
Chairman René Médori commented: "After nearly 40 years in the
industry and 30 years with Petrofac, Ayman has decided the time has
come to step back from his executive duties to focus on his family,
health and charitable interests. The Board has been planning for
his retirement for some time and I am delighted that we have been
able to attract a candidate of Sami Iskander's calibre, who was
identified following a comprehensive external and internal search
process. He has an excellent industry pedigree both in
international oilfield services and upstream E&P, a deep and
local understanding of our markets and client landscape, and a
proven track record in business transformation.
"Ayman's contribution to Petrofac, as both its co-founder and
Group Chief Executive, has been extraordinary. Under his
indefatigable stewardship Petrofac has grown into a leading
international service provider to the energy industry, with an
excellent track record of delivery for clients. We owe him an
immense debt of gratitude for his unstinting commitment. He hands
over to a talented and experienced team that has been instrumental
in transforming Petrofac into a more resilient, capital light
business with a strengthened balance sheet. I am also delighted
that Ayman will continue to support the Company in the future as
both a Non-executive Director and major shareholder."
Sami Iskander, Deputy Chief Executive Designate, said: "I am
delighted to be joining Petrofac at a pivotal and exciting time for
the business. Petrofac is a truly outstanding company, with a
best-in-class execution track record, a strong and differentiated
competitive position in attractive core markets, and a growing new
energies business. I have the utmost respect for what Ayman and
Petrofac's team have built. I look forward to working with them
over the coming years to lead this fantastic company to deliver
growth and create value for all of its stakeholders."
Group Chief Executive Ayman Asfari said: "I have been planning
my retirement for a number of years after a long career at Petrofac
and in the industry. There is never a perfect moment to step down,
and it has been a difficult decision for me to make. However, I
have decided now is the time to hand over the day-to-day running of
the Company to fresh leadership.
"My decision has been made easier in the knowledge that we have
a highly capable team, to whom I owe enormous gratitude, and a
successor of excellent calibre, who shares Petrofac's vision to be
the preferred services partner to the energy industry and has the
right skills to lead Petrofac through the next phase of its
evolution. As a major shareholder I remain deeply invested in
Petrofac's future and I am confident of the Group's continued
progress and success in the coming years."
In accordance with Listing Rule 9.6.13R, Sami Iskander was an
independent member of the Board of Directors of Pacific Drilling
S.A. from 2013 to 2018. There is no other information to be
disclosed under the requirements of Listing Rule 9.6.13R in
relation to this appointment.
NOTES TO EDITORS
Sami Iskander's biography
Sami Iskander is a senior executive with over 30 years'
international experience in both oilfield services and E&P
companies.
He was appointed Executive Vice President for Shell's Upstream
Joint Ventures business in February 2016 until 2019, where he was
accountable for business performance in Abu Dhabi, Brunei, Denmark,
Egypt, Italy, Kazakhstan, Kuwait and Oman.
From 2008 and prior to joining Shell in 2016, he worked in BG
Group where he held the position of Chief Operating Officer from
November 2013. In this role, he was responsible for BG Group's
global Upstream operations in addition to being responsible for BG
Technical, which incorporated developments, operations, capital
projects, well engineering, HSSE, climate change, IT, contracts and
procurement, and technology. From 2009, Sami Iskander was Managing
Director for Africa, Middle East & Asia, where he was in charge
of all upstream, midstream and downstream activities in the region
and oversaw the delivery of several large scale oil and gas EPC
projects, on time and on budget.
Prior to BG Group, Sami Iskander held many key leadership roles
with Schlumberger, undertaking assignments in the Middle East,
Africa, Europe, Latin America and the USA.
Sami Iskander is an Egyptian and French national, fluent in
English, Arabic, Spanish and French and holds a Bachelor of Science
in Mechanical Engineering from the American University in
Cairo.
Petrofac
Petrofac is a leading international service provider to the
energy industry, with a diverse client portfolio including many of
the world's leading energy companies.
Petrofac designs, builds, manages and maintains oil, gas,
refining, petrochemicals and renewable energy infrastructure. Our
purpose is to enable our clients to meet the world's evolving
energy needs. Our six values - safe; ethical; innovative;
responsive; quality & cost conscious; driven to deliver - are
at the heart of everything we do.
Petrofac's core markets are in the Middle East and North Africa
(MENA) region and the UK North Sea, where we have built a long and
successful track record of safe, reliable and innovative execution,
underpinned by a cost effective and local delivery model with a
strong focus on in-country value. We operate in several other
significant markets, including India, South East Asia and the
United States. We have 10,700 employees based across 31 offices
globally.
Petrofac is quoted on the London Stock Exchange (symbol:
PFC).
For additional information, please refer to the Petrofac website
at www.petrofac.com
ENDS
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation.
For further information contact:
Petrofac Limited
+44 (0) 207 811 4900
Jonathan Yarr, Head of Investor Relations
jonathan.yarr@petrofac.com
Aaron Clark, Investor Relations & Communications Manager
aaron.clark@petrofac.com
Alison Flynn, Group Head of Communications
alison.flynn@petrofac.com
Tulchan Communications Group
+44 (0) 207 353 4200
petrofac@tulchangroup.com
Martin Robinson
LEI 2138004624W8CKCSJ177
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
BOAFIFIEIVLFLII
(END) Dow Jones Newswires
October 12, 2020 02:00 ET (06:00 GMT)
Grafico Azioni Petrofac (LSE:PFC)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Petrofac (LSE:PFC)
Storico
Da Apr 2023 a Apr 2024
